A crypto investor who wanted to take advantage of the meme coin frenzy lost tens of thousands of dollars in a short period of time.
According to data provided by the on-chain analysis platform Lookonchain, the meme coin gamble cost an investor dearly.
The data revealed that the investor spent 300 Solana (SOL) worth $53,000 to buy a meme coin called LADYF. However, just 3 minutes after the purchase, the investor panicked and sold, losing 263 SOL worth $46,000 as the price crashed.
The increased FOMO around Solana-based meme coins has started to hurt many investors. The desire to make quick money has resulted in many investors losing significant amounts of money in a short period of time.
Last week, an investor who lost money on every meme coin purchase finally gave up and withdrew all his money from the Binance crypto exchange.
